Future-Proofing Treasury: Mastering Skills, Trends, and Talent for a New Era
The corporate treasury landscape in Greece is evolving rapidly. From overcoming economic challenges to navigating digital transformation, treasurers are stepping into strategic roles that go far beyond traditional liquidity management. However, as this transformation unfolds, treasury teams must address talent shortages, embrace technological advancements, and redefine their value within organizations.
In this webinar, we’ll explore how treasury professionals in Greece can adapt to these changes, innovate their roles, and position themselves as indispensable strategic partners.
1. The Treasury Talent Gap
Treasury departments in Greece face a significant talent shortage. Many roles are concentrated in large corporations across key sectors like energy, shipping, and FMCG. While treasury functions such as cash management, debt management, and risk mitigation are crucial, they remain heavily reliant on manual processes, particularly in small and mid-sized companies.
This talent gap is further highlighted by the growing demand for treasury professionals. In January alone, 19 treasury job openings were reported—an indication of the increasing importance of treasury teams in a rapidly modernizing financial environment. To address this gap, businesses must invest in attracting young talent by offering internships, upskilling opportunities, and clear career paths.
2. The Evolving Role of Treasury
Treasury’s transition from a back-office function to a strategic business partner is reshaping its role within organizations. Traditionally focused on operational tasks, treasurers are now taking on responsibilities like advising leadership on financial risks, optimizing debt capital structures, and supporting M&A activities.
The distinction between treasury and finance or accounting is also critical. While finance deals with capital structuring and accounting ensures compliance, treasury focuses on forward-looking activities like cash forecasting and risk mitigation. Similarly, corporate and banking treasury differ significantly—one managing internal liquidity, the other addressing systemic risks in a highly regulated environment.
3. Skills for Tomorrow’s Treasurer
The treasurer of tomorrow needs a diverse set of competencies, including:
• Financial Risk Management: Mitigating currency fluctuations, interest rate volatility, and credit risks.
• Cash Flow Optimization: Ensuring sufficient liquidity to support operations and investments.
• Strategic Thinking: Aligning treasury activities with broader corporate goals.
Additionally, must-have skills include crisis management, negotiation with banks, and digital literacy. However, Greece lacks formal treasury education or certifications, creating a pressing need for structured training programs and access to global best practices.
4. Overcoming Career Development Challenges
Treasurers in Greece often remain with a single employer for years, particularly in family-owned businesses, where their role extends to managing personal finances for the owner. While this builds trust and deep company knowledge, it limits exposure to diverse industry practices and modern tools.
To address these challenges, treasury professionals must seek opportunities for cross-sector experience, while companies should create rotational programs and invest in leadership development. Clear career progression and competitive salaries are essential to retaining top talent.
5. The Impact of Technology
Automation, AI, and machine learning are transforming treasury operations worldwide. Tools like Treasury Management Systems (TMS) and Robotic Process Automation (RPA) streamline processes such as payment reconciliations, cash flow forecasting, and risk analysis. These technologies not only improve efficiency but also allow treasury teams to focus on strategic initiatives.
In Greece, large corporations are leading the way in adopting TMS, while mid-sized companies are automating specific tasks. However, limited support from local banks for advanced technologies like APIs remains a significant barrier. To fully realize the benefits of automation, companies must address cultural resistance and invest in upskilling treasury professionals.
6. Talent Mobility and Repatriation
The Greek government’s tax incentives for repatriating professionals—such as a 50% tax reduction for five years—are a step in the right direction. However, some companies misuse these incentives by offering initially competitive salaries that are reduced once the tax benefits expire.
Returning treasury professionals bring invaluable global expertise, including familiarity with advanced tools and exposure to best practices. However, many struggle to adjust to the manual processes prevalent in Greek treasury departments, often leaving within a year. To attract and retain such talent, businesses must modernize their operations and provide long-term incentives.
7. Redefining Treasury Leadership
Treasury leadership in Greece is undergoing a strategic evolution. Beyond liquidity management, treasurers now play a pivotal role in shaping debt capital structures, advising on M&A, and aligning with ESG initiatives. Approximately 80% of treasury roles are found in large corporations, with the energy sector leading in complexity and innovation.
To enhance treasury’s brand as a strategic partner, leaders must adopt a proactive approach, champion digital transformation, and align their activities with corporate strategies.
8. The Path Forward
As treasury continues to evolve, its role in driving business strategy and innovation will only grow. By addressing talent shortages, embracing technological advancements, and fostering leadership skills, treasury professionals in Greece can redefine their value and secure their place as indispensable contributors to corporate success.
For companies, the challenge is clear: invest in modern tools, upskill teams, and create environments that attract and retain top talent. The future of treasury is strategic, dynamic, and ripe with opportunity—it’s time to seize it.
